Who should attend this program:
This programme provides a user-friendly environment to develop the knowledge and techniques related to accounts payable that are valuable for:
- Finance Executives and Professionals.
- Accountants.
- Accounts Payable Managers.
- Accounts Payable Supervisors.
- Accounts Payable Personnel.
- Others who are working within accounts payable process or who wish to develop a practical toolkit to complement their existing professional or technical skills.
Program Objectives:
This program aims to enable participants to achieve the following objectives:
Work effectively with the fundamentals of accounts payable, financial accounting and the supply chain.
- Understand and apply the fundamentals of accounts payable systems.
- Review and comment on payment methods and cash management.
- Analyse the need to incorporate risk and uncertainty into accounts payable analysis.
- Identify best practice across all industries.
Training Methodology:
The program will provide the theoretical background and techniques that underpin the organisation and management of accounts payable and its related functions. It will provide a real world practical context by incorporating worked examples and case studies that delegates will see how theory applies in practice and can discuss the various issues raised.
Program Summary:
The management of the accounts payable (creditors) of an organisation is essentially just one aspect of the management of the cash flow of that organisation. Since organisations cannot survive without adequate cash flows, it follows that the management of accounts payable is a vital aspect of cash flow management. This programme provides for you a deep and detailed introduction to modern accounts payables and their management.
Day 1: Accounts Payable, Financial Accounting and The Supply Chain
- Accounting and Financial Information: Accounts Payable in Context.
- Sources of Finance.
- The Supply Chain.
- Financial Position and Financial Performance.
- Cash Flow and Working Capital.
- Why is Cash Flow so important.
Day 2: Achieving World Class in Accounts Payable Processes
- Defining Best Practices in AP.
- Moving beyond P2P.
- Managing Risks.
- Principles of Best Practices.
- End to End AP Process.
- Defining the issues in Accounts Payable.
Day 3: Improving Invoice Processing and Operational Management.
- Invoice Handling and Approval Processes.
- Verifying Invoice Data.
- Paying “low value” items.
- How to avoid Duplicate Payments.
- Making the best use of Staff-Time: limiting telephone call to AP.
- Does Petty Cash Management belong to Accounts Payable?
Day 4: Harnessing Technology in Accounts Payable Processes.
- Master Vendor File Management – Getting it Right from the start.
- Travel & Entertainment.
- Policy Management.
- Cash Advances and Employee Reimbursement.
- Process Improvement through Imaging and Workflow.
- Using the Internet for AP Effectiveness.
Day 5: Making the Payments and Maintaining the Relationships
- Communication & Customer Relations.
- Payments Status Information for Vendors and Internal Customers.
- Improving Procure to Pay (P2P) Cycle.
- Payment and Payment Solutions: Accounts Payable or Treasury?
PLACE: London (UK)
VENUE (TBC): INDUSTRIOUS (1 and 2, 245 Hammersmith Road Floors, London W6 8PW)
LANGUAGE: English